P.S._COUNTER_WINDOWS_LIMI - Accounts

P. S. COUNTER WINDOWS LIMITED - Company Information

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Company Registration No. 04347950 (England and Wales)

P.S. COUNTER WINDOWS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

P.S. COUNTER WINDOWS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

P.S. COUNTER WINDOWS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

370,853

202,911

Current assets

Stocks

6,400

6,000

Debtors

101,088

283,986

Cash at bank and in hand

126,524

148,747

234,012

438,733

Creditors: amounts falling due within one year

(123,940)

(155,321)

Net current assets

110,072

283,412

Total assets less current liabilities

480,925

486,323

Creditors: amounts falling due after more than one year

(39,217)

(37,978)

Provisions for liabilities

(17,000)

(16,600)

424,708

431,745

Capital and reserves

Called up share capital

100

Revaluation reserve

31,504

11,504

Profit and loss account

393,104

420,141

Shareholder's funds

424,708

431,745

P.S. COUNTER WINDOWS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 December 2016

PS Counter

Director

Company Registration No. 04347950

P.S. COUNTER WINDOWS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents revenue recognised in the financial statements. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services and excludes value added tax.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Freehold land and buildings

2% straight line

Leasehold land and buildings

Over the term of the lease

Plant and machinery

25% straight line

Computer equipment

25% straight line

Fixtures, fittings & equipment

25% straight line

Motor vehicles

25% straight line

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock and work in progress is valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

P.S. COUNTER WINDOWS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

Accounting policies

(Continued)

- 4 -

1.8

Investment properties

In accordance with Statement of Standard Accounting Practice No 19:

- investment properties are revalued annually by the directors on an open market basis and the aggregate surplus or deficit is transferred to a revaluation reserve; and

- no depreciation or amortisation is provided in respect of investment properties.

This treatment, as regards the company's investment properties, may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Fixed assets

Tangible assets

Cost or valuation

At 1 April 2015

248,933

Additions

176,212

Revaluation

20,000

Disposals

(18,000)

At 31 March 2016

427,145

Depreciation

At 1 April 2015

46,022

On disposals

(12,815)

Charge for the year

23,085

At 31 March 2016

56,292

Net book value

At 31 March 2016

370,853

At 31 March 2015

202,911

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £59,594 (2015 - £54,581).

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.